Lazari Capital Management Inc. Raises Stock Position in Pfizer Inc. (NYSE:PFE)

Lazari Capital Management Inc. grew its holdings in shares of Pfizer Inc. (NYSE:PFE) by 17.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,224 shares of the biopharmaceutical company’s stock after buying an additional 3,329 shares during the quarter. Lazari Capital Management Inc.’s holdings in Pfizer were worth $643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FAS Wealth Partners Inc. lifted its holdings in shares of Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 342 shares during the last quarter. Sachetta LLC lifted its stake in Pfizer by 7.3% in the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 342 shares during the last quarter. Ironvine Capital Partners LLC grew its stake in shares of Pfizer by 2.1% during the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after buying an additional 353 shares during the last quarter. Secure Asset Management LLC raised its holdings in shares of Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after buying an additional 353 shares during the period. Finally, Patrick M Sweeney & Associates Inc. lifted its stake in shares of Pfizer by 0.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after acquiring an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.3 %

NYSE:PFE opened at $28.85 on Wednesday. The firm has a 50 day moving average of $29.07 and a 200 day moving average of $28.48. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The stock has a market capitalization of $163.45 billion, a price-to-earnings ratio of -480.75, a PEG ratio of 1.02 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is currently -2,800.00%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PFE shares. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Thursday, October 3rd. UBS Group boosted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Barclays boosted their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.91.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.